Breitbart Business Digest: Here’s the Good News on Inflation

Inflation Hasn’t Escaped the Energy Cage

You already know the bad news on inflation: the May Consumer Price Index rose 4.2 percent from a year ago. That’s the worst CPI print in three years.

The good news is that inflation cooled in May, and inflationary pressures are not spreading from the energy sector to the rest of the economy.

Let’s begin with what is actually driving the headline. Energy prices surged 23.5 percent over the past year and contributed 1.76 percentage points to the 4.2 percent all-items reading — 42 percent of the entire annual increase coming from a single geopolitical supply disruption . Gasoline alone is up 40.5 percent…

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